DAX collapses and closes below 13,300 points – Wall Street loses significantly – adidas boss Rorsted relinquishes leadership in 2023 – Amazon, Netflix, GAZPROM, Uniper, Fresenius, ENCAVIS in focus

Of the EURO STOXX 50 was a little lighter when the starting bell sounded at 3,724.14 points and significantly expanded his discounts over the course of the day. At the end of trading, the stock price was down 1.93 percent to 3,658.22 units.

At the start of the week, a wave of bad news weighed on the market and kept buyers away. The European gas price, for example, continued to rise, which is further exacerbating inflation in Europe and fueling fears of a recession. Investors are therefore turning their attention to the Fed meeting in Jackson Hole this week.

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Of the Dow Jones opened the session 0.36 percent weaker at 33,586.59 points and then continues to fall back. For the tech-heavy NASDAQ Composite it went down by 1.43 percent to 12,523.16 points at the start. He continues to give in over the course of the year, and the losses now amount to well over two percent.

Interest rate and inflation concerns also weighed on the US stock exchanges on Monday. Investors are focusing on the central bankers’ meeting in Jackson Hole, which begins on Thursday. The market expects the Fed to continue its tightening stance to combat high inflation. The appearance of US Federal Reserve Chairman Jerome Powell is particularly eagerly awaited. Broker Oanda analyst Craig Erlam believes Powell will reiterate what central bankers recently said publicly, without giving too much away ahead of the forthcoming September meeting, reports Deutsche Presse-Agentur.

Meanwhile, economic activity in the US strengthened in July. The Chicago Fed’s economic index rose to plus 0.27 from minus 0.25 in June – but the more meaningful three-month moving average remained stuck at minus 0.09.

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In Tokyo he noted Nikkei finally with minus 0.47 percent at 28,794.50 points.

In mainland China, the Shanghai Composite meanwhile by 0.61 percent to 3,277.79 points. Of the hang seng in Hong Kong fell 0.59 percent to 19,656.98 units.

The fear of further rate hikes remained an issue on the market worldwide. Impetus for this could come from a speech by Fed Chair Jerome Powell at the end of the week.

China, on the other hand, recently lowered interest rates in order to further stimulate the economy. According to market observers, however, this is seen as an admission of economic weakness, since the general monetary policy-Trend recently pointed in the opposite direction due to much too high inflation.

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